Forensic audit
This is a typical limited assurance engagement that is done to express an opinion on a specific matter. This type of audit is normally requested in the event of suspected fraud and/or to report on the effectiveness of design and implimentation of internal controls.
The following are examples of the scope of a forensic audit:
- Auditing cash balances for possible fraud
- Auditing debtors’ balances for possible fraud
- Auditing payroll expenses for possible fraud
- Auditing the business cycles for compliance with system of internal controls